Kotak Mahindra Group-backed Phoenix Asset Reconstruction Company (ARC) has announced a major asset sale, seeking expressions of interest (EoIs) for a substantial portfolio of non-performing assets (NPAs) valued at over ₹3,550 crore. This significant move is aimed at offloading a mix of secured and unsecured loans that are currently classified as distressed. According to a …
On August 20, 2024, Adani Krishnapatnam Port in Andhra Pradesh unveiled a state-of-the-art cargo handling system designed to significantly enhance its capacity and productivity. This latest development represents a major upgrade to the port’s existing infrastructure, promising to transform the management of both containerised and bulk cargo operations. The newly introduced system incorporates advanced technology …
L&T Finance, in collaboration with Cred, is set to offer unsecured personal loans to Cred members who have demonstrated a high credit score and a positive repayment history. This partnership integrates L&T Finance (LTF) with its co-lending partner, Newtap Finance—a non-banking financial company (NBFC) renowned for its expertise in digital lending and risk assessment. Through …
Block Deal in Delhivery: Total Transaction of Rs 389.6 Crore Shares of Delhivery Ltd., the logistics services provider, were trading flat on Wednesday following a significant block deal in the stock. This transaction involved the exchange of 88.76 lakh shares, accounting for 1.2% of the company’s total equity. The total value of this block deal …
IDBI Bank has updated its Utsav Fixed Deposit scheme, offering higher investment returns. The bank has increased rates for special deposit periods, with the highest rate now at 7.85% per year. For deposits with a 444-day term, the interest rate is 7.85% per year, and for a 375-day term, customers can earn 7.75% per year. …
Tata Chemicals has raised ₹1,700 crore by issuing Non-convertible Debentures (NCDs) to investors through a private placement. In a regulatory filing on August 20, 2024, Tata Chemicals stated that a board-appointed internal committee approved the allotment of 1,70,000 NCDs, each with a face value of ₹1 lakh, for a total of ₹1,700 crore. These NCDs …
AIA Engineering Ltd has acquired or subscribed to 12,000 equity shares, valued at ₹100 each, in Green Shift Private Limited (GSPL) to secure a captive power supply for its Trichy unit. The acquisition does not constitute a related party transaction. The promoter, promoter group, and group companies of the acquiring company have no interest in …
Introduction Shares of GE T&D India Ltd. experienced a sharp decline on Wednesday, August 21, 2024, as the stock was locked in a 5% lower circuit at Rs 1,717.5. This sudden drop follows the company’s announcement that its promoters are contemplating the sale of a minority stake to streamline their holding structure. The development has …
Shares of FSN E-Commerce Ventures Ltd., the parent company of Nykaa, experienced a significant surge on Wednesday, rising as much as 19% to reach an intraday high of Rs 228.30. This marked the stock’s highest single-day volume since its listing day, and the most substantial intraday gain since November 2022. This blog delves into the …
The Government of India established Petronet LNG Limited as an oil and gas company with the purpose of importing liquefied natural gas and establishing LNG terminals within the nation. Petronet LNG was established in 1998 with the aim of diversifying India’s energy sources and reducing its reliance on traditional fuels such as coal and oil. …
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